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CURRENCIES TECHNICAL ANALYSIS JUNE.02

Euro

The 4-hour chart showed that the euro currency strengthened against the weak US dollar. The quotes approached the nearest resistance at 1.1200 after rebounding from the support at 1.1130. The analysts from Fort Financial Services said that the buyers led the market.

The bulls will maintain the leadership if they break through the resistance at 1.1200. Their target will be 1.1250 and 1.1300.

The bears will regain the initiative if they break through the support at 1.1130. Their target will be 1.1070.

technical_eurusd_02_06_2016_1

Pound

On Wednesday, the trading instrument GBP/USD continued to decline on the 4-hour time-frame, which brought along the breakthrough of 1.4480 downwards. During trading support at 1.4400 was tested. The pair developed a bearish trend.

The bulls will regain the leadership if they break through the resistance at 1.4480. Their target will be 1.4560 and 1.4670.

The bears will maintain the initiative if they break through the support at 1.4400. Their target will be 1.4320 and 1.4240.

technical_gbpusd_02_06_2016_2

Yen

The 4-hour chart showed that during the first part of the trading session, the Japanese currency grew against the “American” and the pair overpassed the level of 109.80. The analysts from FortFS said that at the end of trading the US dollar managed to strengthen and playback a small part of it losses.

The bulls will maintain the leadership if they break through the resistance at 109.80. Their target will be 110.60 and 111.40.

The bears will regain the initiative if they break through the support at 109.00. Their target will be 108.20.

technical_usdjpy_02_06_2016_1

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